Finding cash buyers and other types of end buyers is the funding side of your wholesaling real estate deals.
What is Wholesaling in Real Estate?
The idea is to secure real estate property acquisition at 65% of its after repair value minus the cost of repair.
When you master the skills of finding such discounted deals and putting them into written purchase contract, you can then turn around and flip the contract to a cash or end buyer.
That creates the problem in topic; Finding CASH buyers.
As a real estate wholesaler, you can make anywhere from $500 to $200,000 for being a middle man who facilitates finding distressed properties and sellers, finding real estate investors and end buyer who are cash buyers, and connecting the 2 together.
CASH buyers are preferred because it has less restriction. However, there are creative ways flip these types of contracts and discounted properties to mortgage, leverage and finance buyers.
This video is about finding CASH buyers.
One of the best and traditional ways to find cash buyers is to pay regular visits to local real estate investment association (REIA) meetings and meetups.
The only difference in the digital age is to leverage the visit to the meetups to build a digital database that you can monetize over and over again.
Most people go to these meetings and meetups to give their business cards to others.
May I suggest a different way. if everyone is going there to hand out business cards, why not go there to collect business cards and build your list with it.
That list you will build will become the #1asset in your real estate wholesaling business; 2nd to time only.
It’s also the best use of your time and money expended in going to these meetings.
You may never meet many of the people you meet ever again. But with collecting their contact information a.k.a business cards, you can start serving some values their way via email on a regular basis.
When they do decide to do business, you will be one of the first for them to reach out to for mentorship or possible to pick up their next or first property.
Wholesaling Real estate is a local business.
Even though you can build a list online, it’s very personal and can be additional leverage when you physically meet and network with people at the local meetups.
Honestly, it depends on how much time vs money you have available for marketing and building your list.
As a wholesaler in real estate, your primary duty is marketing and list building.
Marketing is how you find and locate distressed properties, sellers and buyers. List building is how you create a power media house that everyone in your local area would eventually want to tap into.
Marketing can be very expensive. When you build your list, it’s yours and you can market to it for free for life.
That simple fact allow you to save tremendous amount of money in marketing cost while your competition wallow away in debt.
On the sellers side, it can be a little tricky as most people can only sell so many houses in a lifetime. They’ve got family, friends and circle of influence they can refer to you.
More importantly, you should build relationship with them by giving them them value from time to time. That’s simply resources that you’ve thought about very well and find that someone may find useful.
WATCH THE VIDEO
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ABOUT YOUR HOST ::::|
Ola “Tux” Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
#myEmpirePRO #OLATuxAbitogun #WholesalingRealEstate
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